Urban Outfitters (NASDAQ:URBN) Sees Strong Trading Volume Following Better-Than-Expected Earnings

Urban Outfitters, Inc. (NASDAQ:URBN - Get Free Report) saw unusually-strong trading volume on Wednesday following a stronger than expected earnings report. Approximately 840,202 shares were traded during mid-day trading, a decline of 50% from the previous session's volume of 1,693,896 shares.The stock last traded at $40.39 and had previously closed at $41.32.

The apparel retailer reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.20. Urban Outfitters had a return on equity of 15.32% and a net margin of 5.58%. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the previous year, the business earned $0.56 earnings per share. The firm's revenue for the quarter was up 8.1% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on URBN shares. BMO Capital Markets increased their price objective on Urban Outfitters from $38.00 to $42.00 and gave the stock a "market perform" rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. cut their price objective on Urban Outfitters from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Wednesday, February 28th. Telsey Advisory Group increased their price objective on Urban Outfitters from $48.00 to $49.00 and gave the stock an "outperform" rating in a research report on Wednesday. Barclays increased their price objective on Urban Outfitters from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Jefferies Financial Group increased their price objective on Urban Outfitters from $32.00 to $35.00 and gave the stock an "underperform" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $41.33.

Insiders Place Their Bets

In other Urban Outfitters news, insider Azeez Hayne sold 2,878 shares of the firm's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $40.75, for a total value of $117,278.50. Following the sale, the insider now directly owns 2,878 shares of the company's stock, valued at approximately $117,278.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Urban Outfitters news, CFO Melanie Marein-Efron sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $40.72, for a total transaction of $244,320.00. Following the completion of the sale, the chief financial officer now owns 908 shares in the company, valued at approximately $36,973.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Azeez Hayne sold 2,878 shares of Urban Outfitters stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $40.75, for a total value of $117,278.50. Following the completion of the transaction, the insider now owns 2,878 shares of the company's stock, valued at approximately $117,278.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,473 shares of company stock valued at $757,483. Insiders own 31.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Urban Outfitters by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 8,054,721 shares of the apparel retailer's stock worth $349,736,000 after acquiring an additional 382,135 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Urban Outfitters by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,600,911 shares of the apparel retailer's stock valued at $235,590,000 after purchasing an additional 125,147 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Urban Outfitters by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,051,370 shares of the apparel retailer's stock valued at $37,523,000 after purchasing an additional 13,246 shares during the period. Goldman Sachs Group Inc. boosted its position in Urban Outfitters by 82.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,039,540 shares of the apparel retailer's stock valued at $37,101,000 after purchasing an additional 470,323 shares during the period. Finally, American Century Companies Inc. boosted its position in Urban Outfitters by 25.4% during the 3rd quarter. American Century Companies Inc. now owns 940,165 shares of the apparel retailer's stock valued at $30,734,000 after purchasing an additional 190,677 shares during the period. Institutional investors and hedge funds own 77.61% of the company's stock.

Urban Outfitters Trading Down 4.6 %

The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 0.65 and a beta of 1.55. The stock has a 50-day moving average of $40.79 and a 200-day moving average of $39.26.

About Urban Outfitters

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.